Great Northern Iron Ore Properties

(NYSE:GNI)

	Sep 30, 2008	Jun 30, 2008	Mar 31, 2008	Dec 31, 2007
Operating revenue
Total Revenue	6,973	3,638	2,275	3,765
Operating Revenue	6,973	3,539	2,275	3,314
Adjustments To Revenue	—	—	—	149
Cost Of Sales	963	664	—	-1,867
Cost Of Sales With Depreciation	963	664	—	-1,481
Gross Operating Profit	6,010	2,875	2,275	5,031
Operating Expenses
Research And Development Expenses	—	—	—	—
Selling General And Administrative Expenses	—	—	682	1,785
Advertising Expenses	—	—	—	—
Operating Income Before Depreciation	6,010	2,875	1,592	3,246
Operating Income	—	—	—	—
Depreciation	—	—	—	642
Depreciation Unreconciled	—	—	—	257
Amortization	—	—	—	—
Amortization Of Intangibles	—	—	—	—
Operating Income After Depreciation	6,010	2,875	1,592	2,604
Non Operating Expenses
Interest Expense	—	—	—	—
Pre Tax Income	6,094	2,974	1,737	2,625
Income Taxes	—	—	—	—
Minority Interest	—	—	—	—
Income Before Income Taxes	—	—	—	—
Net Income From Continuing Operations	6,094	2,974	1,737	2,625
Net Income From Discontinued Operations	—	—	—	—
Net Income From Total Operations	6,094	2,974	1,737	2,625
Non Recurring Events
Extraordinary Income Losses	—	—	—	—
Income From Cummulated Effect Of Accounting Changes	—	—	—	—
Income From Tax Loss Carryforward	—	—	—	—
Other Gains And Losses	—	—	—	—
Total Net Income	6,094	2,974	1,737	2,625
Normalized Income	6,094	2,974	1,737	2,625
NetIncome Available For Common	6,094	2,974	1,737	2,625
Preferred Dividends	—	—	—	—
Excise Taxes	—	—	—	—

	Dec 31, 2007	Dec 31, 2006	Dec 31, 2005	Dec 31, 2004
Operating revenue
Total Revenue	17,197	17,555	18,361	14,447
Operating Revenue	16,746	17,193	18,109	126
Adjustments To Revenue	149	108	139	130
Cost Of Sales	168	543	536	525
Cost Of Sales With Depreciation	553	543	536	525
Gross Operating Profit	16,428	16,542	17,434	-529
Operating Expenses
Research And Development Expenses	—	—	—	—
Selling General And Administrative Expenses	1,785	1,873	1,724	1,302
Advertising Expenses	—	—	—	—
Operating Income Before Depreciation	14,644	14,669	15,710	-1,831
Operating Income	—	—	—	—
Depreciation	642	258	242	244
Depreciation Unreconciled	257	258	242	244
Amortization	—	—	—	—
Amortization Of Intangibles	—	—	—	—
Operating Income After Depreciation	14,002	14,411	15,469	-2,075
Non Operating Expenses
Interest Expense	—	—	—	—
Pre Tax Income	14,452	14,773	15,721	12,242
Income Taxes	—	—	—	—
Minority Interest	—	—	—	—
Income Before Income Taxes	—	—	—	—
Net Income From Continuing Operations	14,452	14,773	15,721	12,242
Net Income From Discontinued Operations	—	—	—	—
Net Income From Total Operations	14,452	14,773	15,721	12,242
Non Recurring Events
Extraordinary Income Losses	—	—	—	—
Income From Cummulated Effect Of Accounting Changes	—	—	—	—
Income From Tax Loss Carryforward	—	—	—	—
Other Gains And Losses	—	—	—	—
Total Net Income	14,452	14,773	15,721	12,242
Normalized Income	14,452	14,773	15,721	12,242
NetIncome Available For Common	14,452	14,773	15,721	12,242
Preferred Dividends	—	—	—	—
Excise Taxes	—	—	—	—